Links in “Proposals, Requests, & Comments”
- Matz Proposal to Reduce ‘Regulatory Blind Spot’
Chairman Debbie Matz reveals the NCUA's plan to enforce minimum requirements for appraisal management companies in order to improve the quality of appraisals. Matz noted that this would help minimize a "regulatory blind spot." [3/21]
- Trades Request Extended Comment Period for Risk-Based Capital Rule
NAFCU and CUNA have requested that the 90-day comment period for the proposed risk-based capital rule be extended to 180 days. Calling it the most proposed rule that credit unions will face this year or in years to come, the trades stated that credit unions need to have sufficient time for careful and thorough consideration. [3/3]
- Backlash against Movement to Replace CFPB Director with 5-Member Commission
Those opposed to reforming the CFPB say the effort seeks to undermine "this successful new consumer watchdog." [3/3]
- New Bill Expected Soon on GSEs
The Senate Banking Committee is reportedly close to introducing a new bill on housing reform. The anticipated bipartisan effort would require an unwinding of Fannie Mae and Freddie Mac. [2/17]
- FRB Seeks Transfer of DD and Privacy and Comments on Red Flags
FRB seeks comment on proposals to repeal its Regulation DD and Regulation P (transfer to CFPB) and make amendments to the identity theft red flags rule in Regulation V (Fair Credit Reporting). 60-day comment period provided. [2/13]
- ABA Lends Support to House Legislation Seeking to Replace CFPB Director with 5-member Commission
H.R. 3193, the Consumer Financial Freedom and Washington Accountability Act, is scheduled for floor consideration today. [2/11]
- Industry Groups Oppose Certain Components of Diversity Proposal
In a letter to the regulatory agencies, several industry groups support many of the provisions of the proposed standards to assess diversity policies and practices of financial institutions, but object to expectations for addressing third-party contracts and disclosure of the institutions' assessment work product. [2/11]
- NAFCU Urges Clarification on Diversity Policy
NAFCU is urging that the proposed interagency policy statement on diversity in the workplace be revised to make it clear that the proposed guidelines are not regulations or regulatory requirements and that examiners should not make a review of these policies part of their examination process. [2/10]
- Risk-Based Rule Hurts MBL Biz Model
Under NCUAâs proposed Risk-Based Capital Rule, credit unions with concentrations in member business loans will have to maintain a capital level of 14%. The result is that a number of credit unions that are now well-capitalized or adequately-capitalized will become undercapitalized under the new rule. [2/6]
- Senate Passes Bill to Delay Flood Insurance Rate Hikes
Bill to delay for up to four years steep increases in flood insurance rates to give FEMA time develop a plan for property owners who can't afford higher premiums is approved in the Senate. Bankers urged to encourage House to take up the issue. [2/3]
